CIC

The retirement of Gao Xiqing as president of the China Investment Corporation, China’s sovereign wealth fund, has fund managers wondering what the change of leadership will mean for asset allocation and the fund’s use of external managers.

Gao, one of the CIC’s founders, and instrumental in many of its most well-known (and sometimes ill-fated) deals, is to be replaced by Li Keping, who is the chief investment officer. This is the second change in top leadership positions at CIC in less than a year, with Ding Xuedong becoming chairman of CIC in July 2013. Continue reading »

The great potash saga rumbles on. With Uralkali’s chief executive in a Belarusian KGB cell, the global potash market paralysed by uncertainty and Belarus’s state coffers in jeopardy, China has jumped into the mix with a surprise decision by CIC, a Chinese sovereign wealth fund, to take a 12.5 per cent stake in the Russian miner.

On the face of it, the deal should bring the saga closer to conclusion. But don’t expect the paralysis to be lifted any time soon. Continue reading »

Overseas funds have rushed to Japan this year to buy the bull market touched off by prime minister Shinzo Abe. And it seems there has been one big seller quite happy to let them: Beijing.

For the past six years companies from Toyota Motor to SoftBank have noticed a custodial account called OD05 cropping up on their shareholder registers. Sometimes identified as “SSBT OD05 Omnibus China”, and sometimes going by “OD05 Omnibus China Treaty”, it is has been linked in media reports to China Investment Corporation, the giant sovereign wealth fundContinue reading »

There is a new man at the top of the China Investment Corporation (CIC), China’s sovereign wealth fund, prompting debate about whether the change in personnel will also mean a change in approach.

Lou Jiwei (pictured), who is still listed in CIC’s website as chairman and chief executive officer, became China’s finance minister in March. His successor has not been formally named but it has been locally reported that he is Tu Guangshao, the executive vice mayor of Shanghai. Continue reading »

The investment by China Investment Corporation in Friday’s flotation of the Moscow Exchange carries several messages for observers seeking to understand the investment approach of China’s sovereign wealth fund. Continue reading »

Picture: Bloomberg

As markets wait once again for European leaders to bring the eurozone crisis back from the brink, there is one man who is more than happy to lend some advice: Jin Liqun.

What he thinks about Europe carries weight because the institution he chairs, China Investment Corporation, is one of the world’s most important sovereign wealth funds. Continue reading »

By Stefan Wagstyl and Julia Grindell

On a crucial day for the eurozone crisis, a top Chinese official visiting Europe hasn’t missed an opportunity to give EU leaders a stern lecture.

Speaking in London on Thursday, Jin Liqun, chairman of CIC, China’s sovereign wealth fund, indicated that China couldn’t ride to the rescue by buying high-risk bonds unless there was a clear resolution plan. Continue reading »